This week in residential real estate in Georgetown, TX

July 6, 2008 at 8:05 am , by Jenel Looney

I have two closings scheduled this coming week. On Thursday, I asked the escrow officer of one of those deals to put together some information for me. She said, “I’ll try. Right now, I’m just trying to work on today’s deals.” Turns out, she’s not the only closing officer who was busy this week. We had a shortened work week, but still 44 closings in the MLS areas of GTE and GTW. I think a lot of home buyers wanted to get into their new home over the holiday weekend. If they closed early enough in the day on Thursday, all the money transferring would happen before the end of the day, so they would be able to get the keys to their new home. Home sales in Georgetown for week ending July 6
We had a lot of price changes this week, as well. 62 homes saw a change in price. These homes have been active on the market an average of 100 days, and they’ve seen an average price reduction of 6%.
Homes sold by price in Georgetown, TX for the week ending July 6 The chart to the left shows a breakdown by price of the 44 homes that sold this week, as well as the average days on market for each price range. One of the two homes priced at less than $100,000 was a manufactured home that sat on the market for over 300 days before selling. I found it very interesting that the quickest price range to sell over the past week were homes in the $300,000’s.
One of these homes was on the market just 6 days before the owners accepted an offer. Of course, they had it priced $54,000 higher than the eventual sales price. It’s unusual for a homeowner to accept an offer so far below the asking price within the first week of being on the market. This owner was obviously motivated to sell quickly. It could be that the original offer was higher, but inspections turned up issues that caused the parties to renegotiate. (Pure speculation. I’m a storyteller by nature. I build elaborate scenarios in my head to explain the statistics. It’s part of the fun for me.)

Category Georgetown Real Estate / Tags: /

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